Which 5 Myths To Believe Before Starting Your Business
by Arturo F Munoz
(San Francisco Bay Area, California)
Maybe you've heard the following 5 myths about starting your own business, and their typical debunking:
- ...Be the boss... NOT! since your customers will tell you what to do or fire you.
- ...Get paid what you're worth... NOT! if you think you're worth more than the market is willing to pay you.
- ...Have a light workload... NOT! since most entrepreneurs work harder than employees.
- ...Get to do what you want... NOT! since you'll have to wear many hats.
- ...Be profitable in no time... NOT! since it takes years to gain a foothold on your market.
This is enough to depress any wannabe entrepreneur, isn't it?Don't adopt myths without a context, because their debunking can be just as false as the myths themselves.
Instead define your terms:Will you...
- ...Be the boss? Of course! if you define boss as the person first responsible for solving the customer needs and the first rewarded for achieving customer satisfaction!
- ...Get paid what you're worth? Of course! if you realize that this is how it's always been, even when you've been an employee. Nobody pays more than someone's worth and calls it fair bargaining. But to get paid as much as you want, you must be best at pleasing all those willing to pay you that much.
- ...Have a light workload? Of course! if you enjoy what you're doing! I've stayed up often for over 24 hours working on my business, wishing there were more hours of energy left in me to finish what I was so looking forward to completing. I was in "the zone" and loving it! How much better can it get?
- ...Get to do what you want? Of course! if your main objective is to make someone happy. If what you want instead is to have someone else make you happy, then you're going to be miserable and deservingly so.
- ...Be profitable in a few months? Now, this one is a bit tricky, because much depends on the type of business that you go into.
It might take years for you to make a profit. But you could be breaking even constantly and loving the whole entrepreneurial experience.
...Or you could be getting financed by someone convinced of your progress, confident of your coming success.
...Or you could be building an operation only to sell it as a turnkey product, whereupon you make a profit at the time of sale.
...Or, heck, you could launch a blog that takes pennies to set up, so you'll be profitable with just a few sales.
Who is to tell?Business is an adventure. It's trial and error and, above all, it's focusing on the wants of your neighbor. If you meet that want better than anyone else and your neighbor has money and plenty of friends, you'll make revenue. Keep your costs down and you will make a profit.
It's not that difficult to understand. And this is no myth.What other myths do you know? They may also need debunking. Share them below.